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GAS OIL Crude oil prices rose for a second straight week, pushing Brent to its highest level since summer 2022 amid continuous escalations in the Middle East and fears of the global supply situation. The Strait of Hormuz remains a key chokepoint. Governments are acting to stabilize markets: the IEA plans a 400 million-barrel coordinated release, the U.S. will contribute 172 million barrels and allow temporary Russian oil purchases and may escort ships through the strait if needed. Despite these measures, escalation risks continue to pressure energy markets. Consequently, Brent crude spiked by over 11% to settle at $103.14 a barrel. March 16, 2026 0153045607590105120135150Q2 26Q3 26Q4 26Sum26Win26Sum27p/thermChange in Gas Prices06.03.202613.03.20266070809010011006.03.2609.03.2610.03.2611.03.2612.03.2613.03.26$/bblBrentBritish near-term gas prices pulled back amid a market correction, though volatility and sensitivity to news headlines persist. However, the next couple of days’ demand for domestic heating is likely to remain soft with milder temperatures limiting demand. As a result, NBP spot shed by over 5% for the week, ending at 126 p/therm. Along the forward curve, the gas price for Sum-26 delivery fell by 3.5% for the week, closing at 122.47 p/therm. The supply situation remains stable, supported by robust Norwegian imports and regular LNG arrivals meeting current demand levels.